Renovate America Gets OK For $5M Stalking Horse Bid

Law360 (January 8, 2021, 7:07 PM EST) -- A Delaware bankruptcy judge on Friday gave home improvement financing company Renovate America permission to go ahead with its Chapter 11 asset auction with a $5 million minimum stalking horse bid.

At a video hearing, U.S. Bankruptcy Judge Laurie Selber Silverstein approved Renovate's sale procedure motion over the objections of the U.S. Trustee's Office to the fact Finance of America Mortgage LLC's bid protections will get priority over the claims of all the company's other creditors.

Renovate filed for Chapter 11 on Dec. 22 with $115.3 million in liabilities, of which $7.3 million is funded debt. The company said tightened legislation on...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!